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IRS Extends Deadlines for Section 6055 & 6056 Reporting

On December 28, 2015 the IRS released IRS Notice 2016-4, which extends the distribution and filing deadlines for Sections 6055 and 6056 of the Affordable Care Act.

Old Deadline

New Deadline

Deadline to Distribute Forms to Employees and Covered Individuals

Feb. 1, 2016

March 31, 2016

Deadline to File with the IRS

Feb. 29, 2016 (paper)

March 31, 2016 (electronic)

May 31, 2016 (paper)

June 30, 2016 (electronic)

The extended deadlines apply to all filers. The original dates were chosen so that taxpayers could use information found on the forms to file their individual tax returns. This information helps determine whether individuals were eligible for a premium tax credit or are subject to the individual mandate. The 2 month extension to distribute forms to employees and 3 month extension to file with the IRS was granted due to the need for additional time to adapt and implement compliance systems and procedures for the reporting requirements.

For more information on the extended deadlines, read the IRS notice on their website irs.gov.

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